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University Tests Employee Opinion On Proposed Changed Pension Plan

NO WRITER ATTRIBUTED

University employees yesterday got a chance to criticize proposed improvements in their present pension plan.

In a letter sent to all employees by Director of Personnel John W. Teele '27, the University presented a scale of minimum pensions and a reduction in the cost of the plan to employees.

Harvard has had a pension plan since 1936. Employees have contributed four percent of their wages, with the University paying the balance of the amount necessary to finance the plan.

Under the new plan, according to Teele's letter, the cost to employees will be reduced, effective July 1, 1950, from four to three percent. This is in anticipation of the extension of Social Security legislation to cover university employees.

The proposed plan would provide a minimum pension of $50 a month to all employees with 10 years' service, and $100 for those with 20 years' service.

Toele's letter explained that if the new Social Security bill goes through in its present form, the University intends to provide the optional employee's share of Social Security contributions.

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